10 Fast Growing FinTechs in Indonesia

IDC Financial Insights has unveiled a list of 10 fast growing fintechs in Indonesia, part of the broader FinTech 101 list for Asia/Pacific, at the FinTech Innovation Summit 2017 held at The Ritz-Carlton Pacific Place, Jakarta.

“IDC’s FinTech Fast 101” refers to the fast-growing fintech players in Asia/Pacific based on extensive on-ground analysis of the dominant fintech players within the region.

10 Fast Growing FinTechs in Indonesia

The story of us begins with a Microfinance Institution that aims to bridge rural business actors who have limited access to capital. Now through FinTech we are modernizing microfinance by building a peer-to-peer lending platform (P2P) with a credit scoring system to analyze the eligibility of prospective borrowers. Through P2P, we connect the micro business actors in the informal economy directly with the capitalists.

Bareksa.com is Indonesia 1st integrated fund marketplace under the support of PT Bareksa Portal Investasi kicked off on 17 February 2013. Besides allowing you to buy and sell mutual funds online, we also provide you with data and information services as well as investment tools for mutual funds, stocks, bonds, and other products so as to facilitate people to invest.

CekAja.com is a neutral and reliable portal of information and comparison services to help Indonesians make intelligent financial decisions. Having world-class cutting-edge comparative technology and applications, CekAja.com provides fast, easy, and quick choice of financial and insurance products. CekAja.com service is supported by professionals and experienced in technology, finance and insurance.

Since its inception in 2007, DOKU, formerly known as PT. Nusa Satu Inti Artha has earned recognition as the first electronic payment provider and risk management company in Indonesia. With hard work and totality in supporting the online businesses of its merchants, DOKU has proven itself trustworthy and has become the electronic payment service of choice, both for national and international merchants.

Finansialku.com: Financial planner portal for individuals and families in Indonesia. At Finansialku.com, we help to realize your financial goals with proper financial planning. We provide a wealth of information and educational articles on finance, Financial Applications and financial planning seminars.

Midtrans, previously Veritrans, was established in 2012 with a mission to provide online businesses in Indonesia with a payment infrastructure that is safe, reliable, and fraud-free. Working with reputable banking institutions and payment channels in Indonesia, we support online businesses by facilitating transactions and enabling their growth via our chat commerce service. Our clients include Matahari Mall, Tokopedia, Bukalapak, Cottonink, Bro.do, Garuda Indonesia, Pegipegi, JD.id, and many others.

Modalku is an online marketplace based in Jakarta, Indonesia for small businesses to acquire loans and for lenders to fund small business loans to earn compelling returns. Our technology-based approach enables borrowers to receive loans for the first time or at lower than market rates, while lenders will earn returns well above that of bank deposits, traditional fixed income products, and life insurance investment-linked products. This marketplace lending model is proven in countries such as USA, UK, China & Singapore.

TCASH is an electronic money service from Telkomsel, with official license from Bank of Indonesia. Different from airtime/pulsa, you can use TCASH to pay many things; merchants, billings, Telkomsel airtime, purchase online, share money, and other exciting things. TCASH can be used by all Telkomsel users, postpaid and prepaid.

UangTeman.com is an online lending service that provides instant short-term microcredit to Indonesian consumers. At present, we offer unsecured loans of a maximum of 6 million Rupiah for a maximum of 30 days. Our big data driven credit risk algorithms determine, in real time, the creditworthiness of loan applicants within Indonesia. A successful applicant can expect to receive the loan proceeds in his/her bank account within 2 hours after final approval and verification.